Question

Just after its formation on September 1, 2019, the ledger accounts of the Ducks, Inc., contained the following balances: Accrued Expenses Payable Accounts Payable Accounts Receivable Allowance for Doubtful Accounts Building Cash Common Stock ($20 par) Common Stock Subscribed Furniture and Fixtures Merchandise Inventory Notes Payable-Short Term Paid-in Capital in Excess of Par Value-Common Paid-in Capital in Excess of Par Value-Preferred Preferred Stock (10%, $50 par) Preferred Stock Subscribed (10%, $50 par) Subscriptions Receivable-Common Stock Subscriptions Receivable-Preferred Stock $ 4,000 7,000 53,000 4,000 300,000 32,000 400,000 40,000 55,800 79,000 5,000 44,000 5,000 50,000 25,000 40,000 25,000 The corporation is authorized to issue 100,000 shares of $20 par-value common stock and 20,000 shares of 10 percent, $50 par- value preferred stock (noncumulative and nonparticipating).

Answer 1

Refer to the below image for the above mentioned questions, in a detailed way of solution with calculations.

A has common stock : At what average been subscribed lor) price issued ? Reaquirement Amants particulars Answer: $ 400000 . 40000 44000 common Stock common Stock subscribed paid in capital in Excess of par valve - Common Stock Total paid for common Stock $ 484000 : Average price = 1 484000 22000 Shares $22.00 por Share - = : Requirement . Assuming that all of the paid in capital in excess of par value a common was applicable to the Shares of common stock that have been subscribed but not yet issued, what was the subscription price per Share of the common stock subscribed particolars Amount Answer: common stock subscribed $ 40000 paid in capital in excess of par value $ 44000 Total subseription price of $84000 : subscription price - $84000 2000 Shares per share = $42 per share ---